On the other hand, 61% plan adjustments to their marketing strategies.
Grupo Ohla, a global infrastructure consortium, released the results of its "III Survey on Economic Projections in Latin America."
The results of the study showed that 53% of senior executives in the consumer and retail sector in the region anticipate that prices will follow an upward trajectory this year. Only 9% of those surveyed project a price decrease in the short term.
With the participation of 465 executives from 17 Latin American countries, this survey provides a comprehensive overview of current economic trends in the region, ranging from inflation expectations to business performance and projection.
In this edition, they also consulted on the marketing strategies that executives are considering to adapt to the current macroeconomic context.
In the analysis of the results by country, the managers of Argentina and Colombia expressed the most pessimistic expectations regarding the behavior of prices. 88% of Argentine executives and 63% of Colombians project an increase in prices during the first half of 2024.
Chile stands out by showing the greatest expectation of price decreases among the countries evaluated. It is worth remembering that, in the first measurement corresponding to the first quarter of 2023, 69% of Chilean executives anticipated an inflationary increase, a proportion that fell to 37% in the current report. This change in perspective aligns with the decreasing inflation trend that the country experienced during 2023.
Regarding the vision of the economic future and business profitability, 61% of executives anticipated an equal or better situation in their respective countries, and an equal percentage predicts that the profitability of their business will be the same or better in 2023.
However, when analyzing the outlook by industry, marked differences were observed. Sectors such as Alcoholic Beverages, Apparel and Automotive showed little expectation of an improvement in profitability by 2023, in contrast to the Technology and Finance sectors, where the majority of business leaders projected stability or improvement in their performance.
The report also indicated that 61% of participants are considering implementing significant changes in their investment and marketing strategies, placing emphasis on strengthening sales teams, adjusting pricing and promotion strategies, and strengthening commercial agreements.
“We extend our most sincere gratitude to each of the executives who contributed with their valuable participation in this new edition. For Grupo Ohla, it is extremely relevant to help companies present in the region or with a view to entering it, to draw a clearer economic panorama and promote more informed and effective business strategies,” commented the CEO of Grupo Ohla, Antonio Monckeberg.
